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2017 Report on the Consumer Trends of Young People

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If you would like to know what Chinese youngsters are up to, follow the money. Analyzing spending patterns and data provided by its research partners, Shenzhen-based mobile software company Suishou Technology uncovers the 2017 consumer trends of Chinese 20- to 35-year-olds. Much of the report consists of infographics, which are easy to understand but may leave some readers wishing for more details on research methods. getAbstract recommends this analysis to economists and businesspeople with interests in China.

About the Author

Suishou Technology is a mobile finance software company. The Internet data research and analysis company 199IT released their report on its website.

Summary

Many people in China believe that the country’s young people are living from paycheck to paycheck. But in 2016, people born in the 1980s or 1990s earned a monthly average of ¥6726 ($908), spent an average of ¥4386 and saved the rest. Compared with 2015, average savings went up 15.3%. A growing number of young people use apps and online tools to invest, plan their finances and keep track of their spending.

In social activities, young people spent most dining out with friends, taking care of parents, and using apps like WeChat and QQ to send “red envelopes” containing money to friends and colleagues. (Tencent's WeChat and QQ put a new spin on traditional red envelopes, which...